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Skanska predicts construction costs will rise above inflation in many US cities

March 14, 2023

Phoenix and Orlando, Florida, are expected to experience price inflation above 5% within the next six months to a year. Most other cities will see price inflation above normal — in the 3% to 5% range — and the report defines “stable” construction pricing as less than 3% annually. New York City, too, is also expected to feel that above inflation price increase, though it is expected to decrease within the next two years.

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